Probability Age of Female A 50-year-old woman wants to purchase a $100,000 Death one-year life insurance policy. What should the 20 0.00050 insurance company charge the woman for the policy if it wants an expected profit of $70? 30 0.00060 40 0.00085 50 0.00305 The company should charge her $
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- There is a 0.99962 probability that a randomly selected 25-year-old female lives through the year. An insurance company wants to offer her a one-year policy with a death benefit of $800,000. How much should the company charge for this policy if it wants an expected return of $600 from all similar policies? The company should charge $ (Round to the nearest dollar.)Solve this easy questionAn insurance company sells a $9,000, nine-year term life insurance policy to an individual for $460. Find the expected return for the company if the probability the individual will live for the next nine years is 0.96. (Round your answer to the nearest cent.)
- An insurance company sells a $2,000, eight-year term life insurance policy to an individual for $220. Find the expected return for the company if the probability the individual will live for the next eight years is 0.99. (Round your answer to the nearest cent.)An insurance company sells a $20,000, seven-year term life insurance policy to an individual for $1,700. Find the expected return for the company if the probability the individual will live for the next seven years is 0.92. (Round your answer to the nearest cent.)$Larry purchased an annuity from N insurance company that promises to pay him $2,000 per month for the rest of his life. Larry paid $210,240 for the annuity. Larry is in good health and is 72 years old. Larry received the first annuity payment of $2,000 this month. How much of the first payment should Larry include in gross income?
- An insurance policy costs $105 per year and insures the items in the policy owner's home against theft for the year in which coverage is purchased. Which of these correctly describes the additional information that the insurance company will need to calculate an expected net return per policy? A The number of policies sold only B The payout to the insured if a theft occurs only C The number of policies sold and the probability of damage occurring to the home D The probability of theft of property from the policy owner's home and the payout to the insured if a theft occursAs a fringe benefit, Dennis Taylor receives a $48,000 life insurance policy from his employer. The probability that Dennis will live another year is 0.9635. If he purchases the same coverage for himself, what is the minimum amount that he can expect to pay for the policy? (Enter your answer to the nearest cent.)$The probability that a 50-year-old male in the U.S. will die within one year is about 0.00142. An insurance company is preparing to sell a 50-year-old male a one-year, $30,000 life insurance policy. How much should it charge for its premium in order to have an expectation of $0 for the policy (i.e., make no profit and make no loss)? (Round your answer to the nearest dollar.)
- The probability that a 22-year-old female in the U.S. will die within one year is approximately 0.00044. If an insurance company sells a one-year, $20,000 life insurance policy to such a person for $295, what is the company's expectation? (Round your answer to the nearest dollar.)$Richie’s Insurance Company offers a $250,000 life insurance policy for a premium of $750 per year. If the probability you live through the year is .9977, what is the expected value to the insurance company.Suppose that a life insurance company insures 1,000,000 fifty-year-old people in a given year. (Assume a death rate of 4 per 1000 people.) The cost of the premium is $100 per year, and the death benefit is $50,000. What is the expected profit or loss for the insurance company? The insurance company can expect a(n) $ million (Type an integer or decimal rounded to one decimal place as needed.)
